a generic tag related to accumulating cash or bank deposit savings.

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0answers
13 views

How to account for transferring money to an investment account?

I have recently been asked to look after the books temporarily for a small not for profit sports club in Christchurch New Zealand. I noticed that they had entered transferring of money from the ...
0
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3answers
162 views

Why don't people generally save more of their income?

Personally, I can save up to 80% of my income. I believe normal person could save about 50% of their income, but none of countries average even 20%. Why? according to : ...
8
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6answers
324 views

Is it okay to be married, 30 years old and have no retirement?

I am a 31 year old attorney with a 10 month old baby. I make $130K a year. My husband is also an attorney, and makes approx. $60K a year. WE both do not have any retirement savings or college ...
4
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3answers
182 views

Savings account vs Roth 401k

Is there any reason to have a savings account if you have a Roth 401(k), which allows early withdrawal of principal? If pooled together, couldn't you get the liquidity of a savings account and, if ...
0
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2answers
161 views

Where should a young student put their money?

I'm a young student with no student debt (my tuition is paid for, I've long since saved up enough.) I'm looking into my future and looking at investing in index funds or other sorts while I still live ...
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1answer
68 views

In India, what is the difference between Current Account and a Savings Bank Account?

Considering that Current Accounts in India give you no interest, why would anyone keep a current account open? Why not just use a Savings Bank Account? ATleast they give you some daily interest on the ...
3
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4answers
256 views

First Job, should I save or invest?

I just got my first real job and I'm wondering how much I should start saving. Is there a good percentage to start at based on personal experiences? And is it better to save my money or invest in a ...
0
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2answers
135 views

Starting an investment portfolio with Rs 5,000/-

I would like to start my investment portfolio with Rs 5,000/- every month. I am trying to find a scheme that gives me the flexibility to pull out my money really quickly (family emergency etc) and ...
2
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2answers
132 views

Where should I park my rainy-day / emergency fund?[INDIA]

I was looking at options for where I can put my emergency fund. I came across these questions during my search - #1 and #2 - which are specifically for U.S. and Canada. I want to know what options ...
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6answers
399 views

What is the best use of “spare” money?

Here are some cliff notes about me: 30 years old immigrant (came to the US late 2009), so no established credit (got a $900 credit card with my bank finally last year) No spouse, no children. Just ...
8
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5answers
4k views

What percent of my salary should I retain?

Here is my situation: right now I am living in Puerto Rico, and I am planning to relocate to the mainland US (probably to Seattle, WA). Although Puerto Rico is a territory of the US, almost everything ...
18
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7answers
3k views

How risky is it to keep my emergency fund in stocks?

Everybody says you should keep an emergency fund of 3–6 months of expenses in cash or near-cash (CDs, treasuries, etc.). I know this is heresy but if you have funds for significantly more than 6 ...
6
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4answers
706 views

What is the best safe way to earn most interest of 100k savings?

What is the best safe way to earn most interest of 100k savings? What is the safest way I can maximize my interest income on 100k savings? I want as little risk as possible
4
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1answer
92 views

How often do Savings Banks in India pay interest?

As per my understanding, Banks in India are to run under the directives of the Reserve Bank of India. How often do they pay dividends on the interest that they offer on Savings bank accounts? Every ...
0
votes
1answer
78 views

What are the risks to using a tax-free bond fund for short term savings (1-2 years)?

I'm saving some money, probably for a down payment house, and I'd like it to earn a bit more return than it would just sitting in cash. I max out my Roth 401(k) and my Roth IRA, so any additional ...
2
votes
4answers
236 views

Relation between inflation rates and interest rates

In Canada, as of the time of writing this question, the: Key interest rate is 1.00% (source) The inflation rate is 1.50% (source) In India, at the time of writing, the: Base interest rate is ...
2
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4answers
231 views

What should I consider when I try to invest my money today for a larger immediate income stream that will secure my retirement?

If I only have about a few hundred dollars to invest each month, what are some methods I can use to grow my money long term? I'm willing to take risks if my ROI is substantial. So, if it can start ...
6
votes
2answers
250 views

Where to save money in preparation of buying second house?

We just purchased a house last year with 20% down payment on a 30yr fixed mortgage. Everything finally settle down (remodeling, new furniture etc.) and we're on track of saving again. We don't have ...
4
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2answers
124 views

UK: ISA or regular savings account?

I am not a very savvy investor, am new to ISAs and was wondering: where would be the best place to put £10,000 right now (March 2014)? ISAs have tax benefits, but in general don't seem to beat ...
4
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1answer
103 views

Investment for young expatriate professionals

I have read this thread Best way to start investing, for a young person just starting their career? and I was interested by many of its topics. I am myself a young professional and I am working in my ...
2
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2answers
123 views

Is credit history more important than amount of savings when applying for a mortgage?

I am currently in Australia and fixing to buy a house here. What is given more value when I apply for a mortgage to buy a unit in an apartment: a sound credit history, or a lot of savings in the bank ...
8
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3answers
247 views

Is paying your bills and loans one day before it's due a good practice?

I am a full time working professional. I have the habit of paying my bills and loans a day before it's due. That way I've got more cash on hand. However, I've also read that it is better to pay off ...
2
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3answers
123 views

3-year horizon before trading up to next home: put windfall in savings, or pay off mortgage?

Summary: over the 3 years until I trade up to my family's next home, is it smarter to put my upcoming windfall (~$400K, earned over the next 3 years as I vest in stock) in a savings account (earning ...
0
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2answers
112 views

Considerations for holding short-term reserves?

About 20% of my income comes in at the beginning of each year from being a business owner. For the past few years, I've been keeping reserves needed to hold me over to the next year in a money market ...
27
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8answers
6k views

I'm saving money too fast. What should I do?

[Apologies if this sounds (and is) like a first world problem] I get a very generous salary and I am not a spender. I am able to save $2000-$2500 every month. I've invested part of my money in some ...
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3answers
258 views

Is compounding interest on investments a myth?

I continually see examples encouraging young people to start investing for retirement with graphic examples using compounding interest to show that starting early pays off big. I've always bought into ...
2
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4answers
240 views

What to do with savings for 3-5 years?

Here's the situation: Married, late 30's, combined income around $170k. 2 toddlers. We owe $360k on a house worth $600k. Only other debt is $20k each in student loans. 401k plans are in order. We have ...
5
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3answers
207 views

Should I prioritize paying down my higher interest debt over building an emergency fund, or vice-versa?

I have a debt of $15,000 at a yearly interest rate of 9%, which can be paid within 5 years. Would it be better for me to: Build first the emergency fund (e.g. liquidity for 6 months' expenses ...
0
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1answer
47 views

Where can I find information about the relationship between the owner of a company and its business administrator?

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do ...
6
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5answers
403 views

Less than a year at my first job out of college, what do I save for first?

I have heard that 6 months of basic living expenses (about $11,000 usd for me) is a good idea to keep around in case of an emergency. Does this mean that All of my savings every month ($800 every ...
3
votes
1answer
162 views

My employer offers an FSA and HRA but it's not enough. What other options do I have?

My financial situation is unique. I have a son with a degenerative illness that requires on going treatment. This year my employer contributed $1500 to an HRA and I contributed $2000 to an FSA. I ...
1
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2answers
277 views

Is it a good idea for me to divert savings to pay off my debt?

I own a car which I had bought under desperation and stupidly agreed to pay a high interest rate (8%). Recently, I used money from my line of credit, which was at 6%, to pay off my car loan. Now I ...
4
votes
5answers
825 views

Should I buy my first car with all of my savings?

Note: I live in Europe. Hopefully - In a few months time I will be (age) legal to drive, and after getting my license I'm thinking of getting a BMW E46 after years saving up cash from my full-time ...
2
votes
1answer
85 views

Looking to invest a part of my savings in state loans (bonds), how do I approach this?

I've read in several sources that once you have a certain amount of money it makes sense to invest it, rather than putting it in a savings account. Which makes sense since taxation on investments can ...
3
votes
1answer
1k views

How to invest 10k dollars, at the age of 23?

I have some money of my own that I have saved for years. At the moment I am 23, pursuing my masters. I have a little bit over 10k dollars. What would be a clever way invest my money. I am not looking ...
1
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2answers
136 views

First time investing advice (Canada)

I am 29 years old with a wife and we are planning on having a child in the next 2-3 years and as such I have been making a lot of life changes and planning for the future. Fist off I am sorry this ...
2
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3answers
105 views

Whole life insurance - capped earnings

I realize from reading answers here that Whole Life insurance is not the best investment vehicle: When is Cash Value Life Insurance a good or bad idea? How can life insurance possibly work as ...
0
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0answers
48 views

How should a person with zero knowledge invest his money? [duplicate]

I have a friend that doesn't know the first thing about finance, stock market etc. He manage to save some money, and was just about to open a saving in the bank with a little more then the prime ...
0
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1answer
171 views

Any Way To Earn Interest On Brazilian Real [closed]

Background: US investor here. Currently, almost every country thinks that it wants a weak currency, except for a few (that have actually experienced one and found out how awful it is). For instance, ...
5
votes
3answers
2k views

Why have U.S. bank interest rates been so low for the past few years?

I have some savings accounts in different banks and they all give 1.00% interest or less, and in many cases it is something ridiculous like $0.05 Would anyone be able to explain why this is ...
1
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1answer
122 views

Calculating required rate of return for an income-generating savings account

Say someone has £1m. They want it to generate an increasing level of income, starting from £25k in year 1, and increasing at a rate 7% + inflation pa, such that the end value of the savings after 20 ...
0
votes
4answers
952 views

I've got $100K to invest over the next 2 to 7 years. What are some good options?

I have ~$100K in cash right now that I need to put somewhere. I plan on using the money for a down payment on a home sometime in the next 2 to 7 years (if I were a betting man, I'd say in 3.5 years). ...
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0answers
18 views

How do CDIC savings insurance work? [duplicate]

Savings accounts are insured by CDIC up to $100k. Is it a total of $100k across all savings accounts I have with different banks or 100k per account?
10
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5answers
1k views

Where does most of a salary go?

I'm not working and earning a salary yet, as I'm still in college, but I was wondering: where does most of a salary go? As a software engineer, I might earn around $70,000 a year. I find it hard to ...
1
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1answer
71 views

Would a mortgage lender consider our savings in CDs to be as good as cash?

We are considering placing a chunk of our savings into a long-term CD with a very low early-withdrawal penalty. After looking at a number of different scenarios, we have decided this is the best ...
1
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1answer
8k views

India Income Tax: Need to Pay Tax on Savings Account Interest for FY 2012-13 Or Not?

As per Indian Income Tax rules and regulations, for the Savings Account Interest accrued during the period of April 2012 to March 2013, do I need to pay any tax if it is less than Rs.10000? Or is it ...
5
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1answer
105 views

Saving money in college while paying for college

I am currently attending college. I am working internships while not in school and making good money compared to a typical minimum wage job while at college. I am going for my bachelor's in ...
2
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0answers
72 views

How to distribute additional deposits in my CD ladder?

Assume one has a CD ladder with 5 certificates -the longest CD matures in 5 years, the shortest in 1- each with a $2000 initial deposit. Should additional deposits be evenly distributed amongst them? ...
6
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1answer
5k views

How many weeks of living expenses does the average American have savings for?

I've heard that an average American has only enough savings to cover 3 weeks worth of living expenses. (I think it was on some radio show.) Is it true? If so, does anyone have the source?
1
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1answer
436 views

Should I move my UK ISA balance into an Australian savings account prior to emigrating?

I have around £6000 in a Santander UK easy ISA, the interest rate on this is 0.10% as listed here I'm planning to emigrate to Australian in the next year, so will be setting up a bank account soon. ...